Terra Luna USTC Pump 66%, Re-peg to $1.

GM, It’s CoinBasics Back With Another Banger! Here are the Interesting Developments we are sharing with y’all today :

• Terra USTC Skyrocketed 66%, Re-peg Incoming.

• MicroStrategy Up by 100%.

• Sri Lanka rejects billionaire Tim Draper.

Let’s Dive right into it!

Terra USTC surges 66% following approval to re-peg to $1

Remember the good old days when Terra UST and Terra LUNA were the darlings of the DeFi world? Well, those days may not be gone just yet!

The Terra Classic community has passed a proposal to relink LUNA Classic and the de-pegged USTC stablecoin.

And what do you know, USTC has surged over 66% following the approval.

Here’s how community proposes to gain $1 re-peg back :

• holding reserves in multiple assets and currencies.

• implementing a buyback and burn mechanism.

• paying out interest in US dollars.

• integrating multiple oracle systems.

They are optimistic that the approved proposal will bring USTC back to its target peg.

That's right, folks, the only thing better than a stablecoin is a stablecoin that isn't actually stable.

MicroStrategy stock rockets by 100% in 2023

Oh, MicroStrategy, how you continue to amaze us all.

The Firm bought 8,800 BTC amid 2022 crash.

Despite the crypto market meltdown in 2022, the company continued to pour billions of dollars into Bitcoin and even suffered a $1.28 billion impairment loss for the year.

But, as it turns out, holding on to all that BTC was worth it.

They have seen a huge boost in their stock price, growing by 101.44% over the past month.

The Company now holds a total of 132,500 BTC, purchased at an average price of $30,137.

Their stock has outperformed 97% of the S&P 500 stocks since adopting their Bitcoin strategy in 2020.

MicroStrategy's stock price has doubled since the start of the year, proving once again that sometimes the smartest decision is the one that no one else is making.

Sri Lanka Rejects Drapper's $BTC Pitch to Tackle Corruption

Prominent cryptocurrency advocate and billionaire investor Tim Draper faced unexpected resistance during a recent visit to Sri Lanka.

Draper was in the country to promote the widespread adoption of Bitcoin, but his proposal was not well received by the country's President and Governor.

The Governor pointed out that other technologies can provide financial services and disburse welfare payments.

He pointed that a country without its own currency would lack monetary independence.

Also that introducing Bitcoin during a time of crisis could potentially worsen the situation.

But Tim argued that the adoption of Bitcoin could help alleviate corruption by maintaining an accurate record of transactions.

That's it for Today, We hope you enjoyed the read and as always thanks for tuning in.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research